2003 News Story

Preparation under way for eighth five-year plan (2005-09)

The Ministry of Planning and Economy is currently involved in preparations for the Eighth Five-Year Development Plan (2005-09), with a number of committees set up to give final shape to the Plan's objectives and strategies, and to critically examine and scrutinize recommendations and studies compiled during the four-day international 'Future Vision' symposium held in Riyadh in October 2002. The aim is for the Plan to meet today's challenges, mobilize the Kingdom's economic potential to realize high growth rates, increase both foreign and national investment, develop human resources, and enhance the country's Gross Domestic Product (GDP).

Minister of Planning and Economy Dr. Khalid Al-Gosaibi has stated that the continuity of the development plans reflects the Kingdom's commitment to a strategic long-term vision for sustainable development, commenting that in the Seventh Plan (2000-04), which is nearing completion, there was emphasis on the need for a strategy with integrated features and priorities for a future orientation linked to time frames and quantitative objectives.